GoPro (NASDAQ:GPRO) Shares Cross Above 200-Day Moving Average – Here’s What Happened

GoPro, Inc. (NASDAQ:GPRO)’s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $0.96 and traded as high as $1.38. GoPro shares last traded at $1.32, with a volume of 7,517,361 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on GPRO. Zacks Research cut shares of GoPro from a “hold” rating to a “strong sell” rating in a research report on Friday, August 21st. Wall Street Zen upgraded GoPro from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 23rd. Finally, Weiss Ratings upgraded GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, GoPro has an average rating of “Sell”.

GoPro Stock Down 3.3%

The business’s 50 day moving average price is $1.04 and its 200-day moving average price is $0.97. The company has a market cap of $217.71 million, a PE ratio of -1.19 and a beta of 2.43.

GoPro (NASDAQ:GPRO) last announced its earnings results on Monday, August 10th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.23). The firm had revenue of $104.93 million during the quarter, compared to analysts’ expectations of $151.47 million. GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%. Equities analysts expect that GoPro, Inc. will post -0.81 earnings per share for the current year.

Institutional Trading of GoPro

A number of hedge funds and other institutional investors have recently modified their holdings of GPRO. R Squared Ltd boosted its holdings in GoPro by 49.4% in the first quarter. R Squared Ltd now owns 97,067 shares of the company’s stock valued at $75,000 after purchasing an additional 32,113 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in GoPro by 10.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock worth $115,000 after purchasing an additional 14,324 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of GoPro by 27.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company’s stock valued at $125,000 after purchasing an additional 34,961 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of GoPro by 615.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 92,665 shares of the company’s stock valued at $131,000 after purchasing an additional 79,706 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of GoPro by 59.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company’s stock valued at $205,000 after buying an additional 99,100 shares during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

GoPro Company Profile

GoPro, Inc develops and sells compact cameras and related products designed to capture immersive photos and video during travel, sports, outdoor recreation and everyday activities. Its product portfolio includes HERO action cameras, MAX 360-degree cameras, camera accessories, mounts and other equipment used by consumers, creators and professionals.

The company also provides software and digital services that support content capture, editing, storage and sharing. Its Quik mobile and desktop applications are designed to help users organize and edit footage, while GoPro subscription offerings provide features such as cloud storage, automatic uploads, editing tools, camera replacement benefits and discounts on products and accessories.

Founded in 2002 by Nicholas Woodman, GoPro grew from a wrist-mounted camera concept into a global action-camera brand.